What is bracket order in Sharekhan? A lot of traders often leave the stock market because of the losses that they face. Bracket order is a solution to protect the losses and also to keep the profits in check.
Sharekhan has the feature of a bracket order which you can use with your intraday trades to minimize your losses. It is a 3-in-1 order and has its meaning hidden in its name. You place an initial (buy or sell) order, along with a target price and a stop loss.
If you are placing a buy order, then on reaching the target price or stop-loss price, your order will get executed and sold in the market. This means that if the initial order is a buy order, then the remaining two will automatically be sell orders.
Although, in the case of shorting, where the initial order is a sell order, the other two will be buy orders.
So, a bracket order helps to bracket your order, by placing an initial order and two opposite orders. It helps you to minimize your losses and also to book your profits on time.
For example, if you place a buy order at ₹100 and target at ₹120 and stop-loss at ₹90, then it will get executed as soon as your order reaches either of these prices.
Another important thing to note here is that the bracket order is only applicable on intraday trades or GFD in Sharekhan.
How to Place Bracket Order in Sharekhan?
You can place a bracket order on Sharekhan using either the mobile app or the web terminal.
If you are using the Sharekhan web terminal.
- Log in using your client ID and membership password.
- On the home screen, click on the option, “trade now”.
- Now you will see various options like simple order, normal order, and bracket order. Click on bracket order.
- After this, select the exchange, buy/sell order.
- You now have to enter the target price, stop-loss price, and trigger price.
- Once you have completed this, click on ‘Place order’
- A new pop-up will appear. You have to enter your trading password here.
- Click on submit.
If you are using the mobile app.
- Login to the mobile trading app using your credentials.
- Now click on trade/quote.
- After this enter your trading password.
- A new window will open, now in the order type, select ‘bracket order’.
- Now enter the quantity, exchange, target price, and stop-loss price.
- After this, click on ‘place order’
Hope now you know what is bracket order in Sharekhan. If you have more stock market queries, you can fill in your details.
